Virtual Annual General Meeting of Schweizer Electronic AG:
Company invests in growth in Asia despite current crisis
- Annual General Meeting formally approves the actions of the Executive Board and Supervisory Board
- Shareholders agree to all agenda items
Schramberg, June 26, 2020 – At the first virtual Annual General Meeting of Schweizer Electronic AG held today, the shareholders accepted the proposal made by the Executive Board and the Supervisory Board to not distribute a dividend for the 2019 financial year, but rather to leave the net retained profit in the company. Thus, despite the current crisis, the shareholders support the strategy implemented by management to continue investing in the growth of the company. The growth strategy presented by the Executive Board to the Annual General Meeting is essentially based on an increasingly global set-up of the company and the greater diversification of the customer base and the product portfolio with the start of production in China.
The Annual General Meeting expressed its trust in both the members of the Executive Board and the Supervisory Board for the 2019 financial year and agreed to all the agenda items.
Around 2.6 million shares were represented in the vote, which corresponds to 70 percent of the share capital.
The voting results on the individual agenda items will be provided promptly at https://www.schweizer.ag/en/investor-relations/shareholders-meeting.html.